After some rally yesterday the market has started to consolidate on Thursday. The Sensex is up 0.29 points at 28223.37 and the Nifty is up 1.30 points at 8569.25. About 1336 shares have advanced, 1009 shares declined, and 143 shares are unchanged. Pharma index is up oDr Reddy's Labs, Lupin, Cipla, Hindalco and Bajaj Auto are top gainers while ITC, Coal India, Wipro, ICICI Bank and Maruti are among laggards in the Sensexver 1 percent while FMCG is down 1 percent.
Asian shares mostly rose while the dollar held firm after strong service-sector data and comments from a Fed policymaker boosted optimism about the United State economy and fanned expectations of a US rate hike in September. Investors are worried that weaning off decade-long zero interest rates on the dollar could prove tough for some emerging economies and companies that have taken cheap dollar funding for granted.
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